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Fixed deposit comparison

HDFC Bank Five-Year Tax Saving Fixed Deposit vs ICICI Bank Tax Saver Fixed Deposit

Compare HDFC Bank Five-Year Tax Saving Fixed Deposit and ICICI Bank Tax Saver Fixed Deposit using the controlling cost, balance, rate, tenure, liquidity, limits, eligibility and current first-party bank evidence for this product type.

Fixed deposit comparison

HDFC Bank Five-Year Tax Saving Fixed Deposit vs ICICI Bank Tax Saver Fixed Deposit

Compare the two source-backed records without collapsing unlike conditions into a winner score.

Latest underlying reviewSeptember 10, 2026
HDFC BankHDFC Bank Five-Year Tax Saving Fixed Deposit

Eligible resident individuals or HUFs using a deduction-eligible tax regime who want a large-bank five-year locked deposit and can accept taxable interest plus no normal liquidity during the lock-in.

Cost / pricing
The product uses HDFC Bank’s prevailing five-year deposit rate. The current sub-₹3 crore schedule applicable from 19 August 2026 places the exact five-year bucket at 6.40% p.a. general and 6.90% p.a. for eligible resident senior citizens.
Reviewed
September 10, 2026
Evidence
3 bank sources
Open product research
ICICI BankICICI Bank Tax Saver Fixed Deposit

Eligible ICICI Bank customers who want a current five-year locked deposit with clear online opening and maturity rules and can accept taxable interest.

Cost / pricing
ICICI Bank’s current FD schedule effective 4 September 2026 places the 3-years-1-day-to-5-years bucket at 6.50% p.a. general and 7.10% p.a. senior citizen; the Tax Saver FD is fixed at exactly five years.
Reviewed
September 10, 2026
Evidence
3 bank sources
Open product research
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bankingreference.info · Comparison research sheet

HDFC Bank Five-Year Tax Saving Fixed Deposit vs ICICI Bank Tax Saver Fixed Deposit

Prepared 14 Sep 2026 · Source page: https://bankingreference.info/compare-banking/hdfc-five-year-tax-saving-fixed-deposit-vs-icici-tax-saver-fixed-deposit/

General product research only. Recheck the listed first-party sources before acting because product terms can change after the recorded review dates.

Decision checkpoints

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Each checkpoint reproduces the recorded product fields instead of assigning a winner. Read the condition, scope and missing-data state before treating a difference as useful to you.

01Are you comparing the same customer, amount and tenure?Start with the eligible customer or relationship and any balance, funding or tenure requirement.

HDFC Bank Five-Year Tax Saving Fixed Deposit

Taxpayer / regime eligibility
Resident individuals and HUFs under current HDFC Bank product/KYC rules; in a joint deposit, the deduction is attached to the first holder subject to tax law.
Qualifying amount / lock-in
Minimum ₹5,000 and thereafter in ₹100 multiples; maximum qualifying tax-saving deposit ₹1.5 lakh in a financial year; mandatory five-year lock-in.

ICICI Bank Tax Saver Fixed Deposit

Taxpayer / regime eligibility
Individuals and HUFs with valid PAN/KYC under ICICI’s current product terms; tax deduction eligibility depends on the applicable tax regime and law.
Qualifying amount / lock-in
Minimum ₹10,000 and thereafter in ₹100 multiples; maximum aggregate Tax Saver FD amount under one PAN is ₹1.5 lakh; fixed tenure of five years.
02Which dated rate schedule applies to that deposit?Match the customer category, currency, amount, tenure and effective date before comparing quoted rates. No return is calculated here.

HDFC Bank Five-Year Tax Saving Fixed Deposit

Current five-year rate evidence
The product uses HDFC Bank’s prevailing five-year deposit rate. The current sub-₹3 crore schedule applicable from 19 August 2026 places the exact five-year bucket at 6.40% p.a. general and 6.90% p.a. for eligible resident senior citizens.

ICICI Bank Tax Saver Fixed Deposit

Current five-year rate evidence
ICICI Bank’s current FD schedule effective 4 September 2026 places the 3-years-1-day-to-5-years bucket at 6.50% p.a. general and 7.10% p.a. senior citizen; the Tax Saver FD is fixed at exactly five years.
03What happens if you need the money before maturity?Read the full liquidity and relationship conditions, including any recorded early-exit or payment restrictions.

HDFC Bank Five-Year Tax Saving Fixed Deposit

Preclosure / loan restriction
Normal premature withdrawal/partial liquidity and loan-style access should not be assumed during the five-year tax-saver lock; death-related settlement follows the bank’s applicable process.
Tax-law / maturity condition
A tax-saving FD is a locked tax-law product, not an ordinary callable five-year FD. The prevailing five-year rate at booking controls; monthly payout can use a discounted payout rate.

ICICI Bank Tax Saver Fixed Deposit

Preclosure / loan restriction
Premature withdrawal, loan/lien and overdraft against the Tax Saver FD are not permitted. ICICI also states the product cannot be auto-renewed; maturity proceeds return to the selected savings account.
Tax-law / maturity condition
The five-year lock and no-auto-renew maturity instruction are product-specific and distinguish this deposit from an ordinary callable ICICI FD.
Other maintained comparisons for HDFC Bank Five-Year Tax Saving Fixed DepositOther maintained comparisons for ICICI Bank Tax Saver Fixed Deposit
Exact terms

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Banking product terms side by side for HDFC Bank Five-Year Tax Saving Fixed Deposit and ICICI Bank Tax Saver Fixed Deposit
Decision factorHDFC Bank Five-Year Tax Saving Fixed DepositICICI Bank Tax Saver Fixed Deposit
Current five-year rate evidenceThe product uses HDFC Bank’s prevailing five-year deposit rate. The current sub-₹3 crore schedule applicable from 19 August 2026 places the exact five-year bucket at 6.40% p.a. general and 6.90% p.a. for eligible resident senior citizens.ICICI Bank’s current FD schedule effective 4 September 2026 places the 3-years-1-day-to-5-years bucket at 6.50% p.a. general and 7.10% p.a. senior citizen; the Tax Saver FD is fixed at exactly five years.
Qualifying amount / lock-inMinimum ₹5,000 and thereafter in ₹100 multiples; maximum qualifying tax-saving deposit ₹1.5 lakh in a financial year; mandatory five-year lock-in.Minimum ₹10,000 and thereafter in ₹100 multiples; maximum aggregate Tax Saver FD amount under one PAN is ₹1.5 lakh; fixed tenure of five years.
Deduction context / payoutEligible deposit principal may qualify within the aggregate Section 123 / Schedule XV deduction framework; monthly or quarterly payout can be selected, while reinvestment compounds quarterly. Interest itself remains taxable.Cumulative or traditional non-cumulative deposit with monthly or quarterly interest payout. Qualifying principal may be deductible within the applicable aggregate statutory ceiling; interest is taxable/TDS-applicable.
Preclosure / loan restrictionNormal premature withdrawal/partial liquidity and loan-style access should not be assumed during the five-year tax-saver lock; death-related settlement follows the bank’s applicable process.Premature withdrawal, loan/lien and overdraft against the Tax Saver FD are not permitted. ICICI also states the product cannot be auto-renewed; maturity proceeds return to the selected savings account.
Taxpayer / regime eligibilityResident individuals and HUFs under current HDFC Bank product/KYC rules; in a joint deposit, the deduction is attached to the first holder subject to tax law.Individuals and HUFs with valid PAN/KYC under ICICI’s current product terms; tax deduction eligibility depends on the applicable tax regime and law.
Tax-law / maturity conditionA tax-saving FD is a locked tax-law product, not an ordinary callable five-year FD. The prevailing five-year rate at booking controls; monthly payout can use a discounted payout rate.The five-year lock and no-auto-renew maturity instruction are product-specific and distinguish this deposit from an ordinary callable ICICI FD.
Tenure-by-tenure rates

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These are nominal annual rates from the reviewed first-party schedules. Effective dates can differ, and no universal winner is inferred from one tenure.

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Shared deposit tenure rates for HDFC Bank Five-Year Tax Saving Fixed Deposit and ICICI Bank Tax Saver Fixed Deposit
TenureHDFC Bank Five-Year Tax Saving Fixed DepositICICI Bank Tax Saver Fixed Deposit
5 years6.40% · senior 6.90%6.50% · senior 7.10%

HDFC Bank Five-Year Tax Saving Fixed Deposit

Schedule reference: August 19, 2026. HDFC tax-saver fee page says the product uses the prevailing five-year deposit rate; HDFC domestic <₹3Cr table effective 19 August 2026.

ICICI Bank Tax Saver Fixed Deposit

Schedule reference: September 4, 2026. ICICI Tax Saver FD is exactly five years; current domestic FD schedule effective 4 September 2026.

Wrong-fit risks

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A useful comparison shows what can make either option unsuitable instead of averaging those conditions into a score.

HDFC Bank

HDFC Bank Five-Year Tax Saving Fixed Deposit

  • The deduction is part of the aggregate ₹1.5 lakh Section 123 / Schedule XV framework and is not available under the new concessional tax regime under Section 202; individual tax circumstances can differ.
  • The deposit deduction and the taxation of FD interest are separate: interest can be taxable/TDS-applicable.
  • From 1 April 2026, current tax-year references should use Section 123 read with Schedule XV of the Income-tax Act, 2025; some bank product copy still uses the legacy Section 80C label.
  • A current regular five-year rate should not be confused with HDFC’s 5-years-1-day-to-10-years bucket.
ICICI Bank

ICICI Bank Tax Saver Fixed Deposit

  • The deduction is part of the aggregate ₹1.5 lakh Section 123 / Schedule XV framework and is not available under the new concessional tax regime under Section 202; individual tax circumstances can differ.
  • From 1 April 2026, current tax-year references should use Section 123 read with Schedule XV of the Income-tax Act, 2025; some bank product copy still uses the legacy Section 80C label.
  • ICICI’s product page still contains legacy Section 80C wording alongside current tax-regime guidance; current Income-tax Act 2025 numbering controls for Tax Year 2026-27 onward.
  • Interest is taxable even when principal qualifies for deduction.
Research tools

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Independent source state

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First-party source appendix

These are the exact source URLs already attached to the two research records. Re-open the controlling documents before relying on a fee, rate, limit, eligibility rule or benefit.

HDFC Bank Five-Year Tax Saving Fixed Deposit

Reviewed September 10, 2026 · 3 attached first-party sources

  1. Issuer product pagehttps://www.hdfc.bank.in/fixed-deposit/five-year-tax-saving-fixed-deposit
  2. Fee / charge schedulehttps://www.hdfc.bank.in/fixed-deposit/five-year-tax-saving-fixed-deposit/fees-and-charges
  3. Issuer product pagehttps://www.hdfc.bank.in/fixed-deposit/fd-interest-rate

ICICI Bank Tax Saver Fixed Deposit

Reviewed September 10, 2026 · 3 attached first-party sources

  1. Issuer product pagehttps://www.icici.bank.in/personal-banking/deposits/fixed-deposit/tax-saver-fd
  2. Terms & conditionshttps://www.icici.bank.in/personal-banking/deposits/fixed-deposit/tax-saver-fd/terms-and-conditions
  3. Issuer product pagehttps://www.icici.bank.in/personal-banking/deposits/fixed-deposit/fd-interest-rates